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CBS
Dec 28, 2012 6:00pm EST
and spending cuts. in a last bid for a deal, president obama stated his terms face-to-face to top republicans and democrats. >> congressional leaders arrive ted white house this afternoon for their first group meeting with the president since november 16th. vice president biden and treasury secretary timothy geithner also attend. but there was little to suggest the makings of an 11th hour bargain. a source familiar with the meeting told the newshour its president is sticking with his offer from last friday. it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and
CBS
Dec 31, 2012 6:00pm EST
of tense negotiations vice president joe biden had spent sunday dealing directly with the senate's republican minority leader mitch mcconnell. and those contacts continued today. by early this afternoon amid reports of progress, president obama emerged in a campaign style setting. >> today it appears that an agreement to prevent this new year's tax hike is within sight. but it's to the done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> it was widely reported that the deal would include making the bush era tax cuts permanent for families with incomes under $450,000 a year. for households making more than that amount rates would rise from the current 35% to 39.6%. the agreement would also raise the estate tax. in addition unemployment benefits would be extended for one year. otherwise some 2 million americans face the end of their benefits beginning in january. on the senate floor shortly before midafternoon minority leader mcconnell confirmed that the stalemate on taxes appeared to be over. >> i can report that we'v
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